Monthly update: April 2026

Borrowing in April was higher than a year earlier and above the official forecast, the second-highest April on record.

Released 22 May 2026. provisional

What changed, and why

What changed this month?: The government borrowed £24.3 billion in April 2026 — the gap between what it spent and what it raised. This was up on the same month last year and higher than the OBR had forecast.
Why did borrowing move?: Spending grew faster than receipts, with higher debt interest and benefit costs among the pressures.
What happened to tax receipts?: Receipts grew over the year, helped by income tax and National Insurance, but not enough to offset higher spending.
What happened to spending?: Day-to-day spending rose, including on benefits and public services.
What happened to debt interest?: Central government debt interest payable was £10.3 billion in April — the highest for any April on record, reflecting inflation uplift on index-linked gilts and higher interest rates.
How does this compare with the OBR forecast?: Borrowing came in above the OBR's March forecast for the month, an early sign the year may run higher than planned — though one month is a weak guide and figures are routinely revised.